| - BOC INVESTOR RELATIONS | ||||||||||||||||||||
| Annual review and summary financial statements 2004 | - ANNUAL REPORT 2004 | |||||||||||||||||||
| HIGHLIGHTS | CHAIRMAN'S STATEMENT | CHIEF EXECUTIVE'S REVIEW | IMPLEMENTING OUR STRATEGY AROUND THE WORLD | OPERATING REVIEW | CORPORATE RESPONSIBILITY | OUR KEY PEOPLE | RESULTS | |||||||||||||
![]() * The only emission from this bus is water vapour. This bus is taking part in a trial. It and ones like it are on the streets of London, England and Perth, Australia carrying passengers for a living. But unlike other buses, it's virtually silent and its exhaust emission is water vapour, pure and simple, because it's a bus running on electricity from fuel cells driven by hydrogen. The word is out that hydrogen could be the fuel of the future. Clean, efficient and plentiful, especially when derived from renewable resources, it is a strong candidate to succeed hydrocarbons later in the century. Right now, its most important role is in helping make the hydrocarbons we burn in our cars more environmentally-friendly by removing sulphur from oil as part of the refining process. Hydrogen also helps refiners extract more light products from barrels of heavier crude oil. This year BOC has won contracts that will increase the amount of hydrogen we supply to the refining industry by a quarter. We already operate the southern hemisphere's largest hydrogen plant serving BP's refinery at Bulwer Island in Australia. We are now building one of the largest hydrogen plants in the US to supply BP and Sunoco refineries at Toledo in Ohio. The role that hydrogen has to play in the future energy needs of the world still has to be worked through. As oil becomes less plentiful and more expensive the search intensifies for alternative fuels that combine oil's flexibility and availability. And hydrogen is a contender for the leading role. |
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